New Delhi, Jan 31 (PTI) Health-tech firm Medlife Thursday said it has acquired Mumbai-based digital healthcare platform and diagnostics company MedLabz for an undisclosed amount. Also Read - IPL 2021 Auction Live Updates List of Released/ Retained Players: KXIP Release Maxwell, Cottrell, Neesham, Mujeeb, Gowtham; SRH Release Five

This acquisition will help the company consolidate its diagnostics business, Medlife said in a statement. Also Read - Portrait of Veer Savarkar in UP Assembly Sparks Controversy; Congress Seeks its Removal

The company has also launched its central laboratory in Bengaluru, it added. Also Read - WhatsApp Calls New Privacy Policy ‘Transparent’, Says Working on Addressing Misinformation on Policy Update

Medlife founder and Chief Executive Officer Tushar Kumar said: “The acquisition has come at an opportune time for both the companies. While MedLabz was looking to scale up business, we wanted to strengthen our diagnostic capabilities through a viable acquisition.” The company, however, did not provide any financial details of the acquisition.

Medlife, which is a leading player in the online pharmacy segment, recently announced plans to expand presence in the retail pharmacy segment.

This is published unedited from the PTI feed.